Colorado § 31-31.5-409 Deferred retirement option plan (DROP)

Colorado Statutes

§ 31-31.5-409 — Deferred retirement option plan (DROP)

Colorado § 31-31.5-409

Title 31Government

Art.Fire and Police Pension Association of Colorado Statewide Retirement Plan

This text of Colorado § 31-31.5-409 (Deferred retirement option plan (DROP)) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 31-31.5-409 (2026).

Text

The board may
establish by rule a deferred retirement option plan for vested members who have
attained age fifty. The purpose of the DROP is to allow an eligible member to elect,
in lieu of immediate termination of employment and receipt of a lifetime retirement
benefit, to continue employment for a specified period of time of up to five years
and to have the member's otherwise deductible employee contribution and
retirement benefits paid into the member's individual account created by section
31-31.5-503 until the end of the specified period of the member's participation, at
which time employment ceases.

Free access — add to your briefcase to read the full text and ask questions with AI

The board may
establish by rule a deferred retirement option plan for vested members who have
attained age fifty. The purpose of the DROP is to allow an eligible member to elect,
in lieu of immediate termination of employment and receipt of a lifetime retirement
benefit, to continue employment for a specified period of time of up to five years
and to have the member's otherwise deductible employee contribution and
retirement benefits paid into the member's individual account created by section
31-31.5-503 until the end of the specified period of the member's participation, at
which time employment ceases.